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GLOBAL MARKETS LIVE: Nestlé, ThyssenKrupp, Barclays, Cisco…

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05/16/2019 | 09:41am EDT

Quarterly earnings, divestments, acquisitions, and rumors feed the daily news on the stock market. The banning of Chinese telecom equipment manufacturers by the United States is also a hot topic. U.S. equity futures are slightly lower, following declines in Europe and Asia.

Earnings season. Walmart Inc, Baidu Inc, Applied Materials, Assicurazioni Generali, Bouygues, Burberry, CNP Assurances, Eurazeo, National Grid, RTL, Vallourec, and Wendel are among companies reporting earnings today.

NSH soon to be sold. Nestlé is in exclusive negotiations with a consortium led by the EQT Partners fund and Abu Dhabi Investment Authority to sell its skincare division, Nestlé Skin Health, for an enterprise value of CHF 10.2 billion, the Vevey giant confirmed.

Apollo and Cerberus after Neinor. After Neinor issued a second profit warning in less than a year and a half, Apollo and Cerberus have approached the company’s main shareholder, Adar Capital, to test its future in real estate, sources close to the matter told newspaper El Economista.

Five punishments. Brussels imposed fines of €1.07 billion on Barclays, RBS, Citigroup, JPMorgan and MUFG for their participation in a cartel on the foreign exchange spot market.

Transport takeover. Kone is looking at the possibility of buying the elevator division that ThyssenKrupp plans to list on the stock market. The Finn company did not wish to comment directly on the rumor of the takeover of this entity, whose presumed valuation is around €14 billion. But it confirmed his interest: "We have been saying for years that consolidation would make sense in our sector and our opinion on it has not changed," according to a spokeswoman. However, such a project is likely to encounter significant antitrust concerns.

Protective instinct. Donald Trump has signed a decree that allows non-US equipment manufacturers, including Chinese ones, to be excluded from the US telecom infrastructure. This decision confirms the White House's hard line towards networks and introduces a new parameter into the Sino-American trade dispute.

Fashion is going green. French president Emmanuel Macron commissioned François-Henri Pinault and Kering to federate fashion on ecology. The leader revealed this at a fashion summit in Denmark. "It is about creating a coalition of companies committed to biodiversity, climate change and ocean protection," said the group's head of sustainable development.

Good will, bad will. Nissan would consider including Thierry Bolloré, Renault's Chief Executive Officer, on its Board of Directors, which already includes President Jean-Dominique Senard, according to Mainichi. The media reports that the Japanese manufacturer is not happy with this perspective, but a local senior official who requested anonymity suggests that it is difficult to refuse given the consequences of disorganizing the Alliance.

Already lucrative. In its quarterly results, Berkshire Hathaway specified the size of its investment in Amazon.com as of March 31, 2008: $861 million through 483,300 shares. As of May 15, this holding was already worth $904 million, after the stock rose to USD 1871.

In other news. Cisco published quarterly results, as well as the Chinese Tencent and Alibaba. The FAA believes that Boeing will soon submit an official request to update the software of its B737MAX aircraft, still grounded since the Ethiopian Airlines crash in March. U.S. federal investigators believe that PG&E was responsible for the deadly California fire. Sony will buy back up to 4.8% of its own capital. Thomas Cook warns of a summer that promises to be complicated for his margins.
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -4.37% 169.13 Delayed Quote.29.02%
AMAZON.COM -1.68% 1757.51 Delayed Quote.19.01%
APPLIED MATERIALS -0.88% 51.68 Delayed Quote.57.48%
ASSICURAZIONI GENERALI S.P.A. 0.52% 18.195 End-of-day quote.23.97%
BAIDU, INC. 0.00% 175 End-of-day quote.0.00%
BARCLAYS PLC 0.61% 165 Delayed Quote.8.96%
BERKSHIRE HATHAWAY INC. 0.02% 313270 Delayed Quote.2.57%
BOEING COMPANY (THE) -6.79% 344 Delayed Quote.15.48%
BOUYGUES -1.27% 38.75 Real-time Quote.25.24%
BURBERRY GROUP PLC -2.04% 1876 Delayed Quote.10.34%
CISCO SYSTEMS -0.68% 46.71 Delayed Quote.8.54%
CITIGROUP -2.37% 70 End-of-day quote.27.43%
CNP ASSURANCES -0.11% 17.89 Real-time Quote.-3.29%
DJ INDUSTRIAL -0.95% 26770.2 Delayed Quote.15.85%
EURAZEO -9.42% 62 Real-time Quote.16.30%
KERING -1.67% 469.65 Real-time Quote.16.05%
KONE 0.57% 52.7 Delayed Quote.25.84%
LONDON BRENT OIL -0.97% 59.29 Delayed Quote.9.34%
NASDAQ 100 -0.93% 7868.490778 Delayed Quote.25.48%
NATIONAL GRID PLC 0.11% 900 Delayed Quote.17.64%
NEINOR HOMES, S.A. -0.68% 11.67 End-of-day quote.-10.23%
NESTLÉ S.A. -0.81% 103.12 Delayed Quote.30.28%
NISSAN MOTOR CO., LTD. 0.57% 689 End-of-day quote.-19.52%
RBS MARKET ACCESS SOUTH-EAST 0.00% 10.79 End-of-day quote.0.00%
S&P 500 -0.39% 2986.2 Delayed Quote.19.59%
TENCENT HOLDINGS LIMITED 0.12% 331.4 End-of-day quote.5.27%
THOMAS COOK (INDIA) LIMITED -2.82% 124.2 End-of-day quote.-45.43%
THYSSENKRUPP AG 0.43% 12.995 Delayed Quote.-13.62%
VALLOUREC -0.52% 2.301 Real-time Quote.42.29%
WENDEL -1.37% 122.1 Real-time Quote.18.24%

Romain Fournier
© MarketScreener.com 2019
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